Reply With QuoteAdd on 20 per cent VAT when you get home makes 9k. Might be a small profit in it.
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Anybody know what Watchfinder are paying for a brand new SD
Been offered one for £7500 in Zurich
Add on 20 per cent VAT when you get home makes 9k. Might be a small profit in it.
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I'd say they'll offer more than that. But maybe it would be little more risky once you paid 20% VAT on import.
£9250 to £9500
And that's why ad's don't want to give people the warranty cards
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£10k in Cov
Thanks
Last edited by Sahara; 5th May 2019 at 11:04.
Spot on!Originally Posted by Rbains0708
Is it worth taking a cheap trip to Switzerland and walking the watch through customs? It would be a nice couple of days, Zurich is beautiful to visit and there are a lot of nice watch shops with very big displays.
That appears to be an invitation to evade vat. Which would, I believe, be a criminal act . They can check your bank account and credit card details.
Which (assuming you're proposing to not declare it) is tax evasion, of course...
Simon
I nearly said that earlier but I didn't want to be on the receiving end of the forum VAT police :)
You’re right. Nobody has ever done it. We mustn’t start today.
This is missing the point surely? The question is will any of the grey dealers buy a BNIB watch without the tax having been paid?
I don't know the answer to that.
I’ve sold many watches, over the years. I don’t recall ever being asked if I’d paid the VAT (some had non-UK ADs on the warranty card).
Once the watch is sold, the watch is sold. The originator is liable, no?
I think also, in the real world, Border Force have better things to do than keeping supplies of luxury watches lean in the UK!
So your attitude is that if people have committed crimes...tax evasion...it's fine for you to do so. Really classy .
What do you think pays for the NHS, Police, roads and so on? The tooth fairy?
Yay, more lifeblood for the forum
Oh goody, another profiteering chappy, can’t wait to see the endless stream of bargains.
You just knew that this thread was heading one way
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Woken up on the wrong side of the bed, chief?
This happens every day. I’m pretty sure you’re not camped out at T5 looking for tax evaders and I’m pretty sure you’re not some Jesus like character, who lives a perfect life.
If you are and you do, accept my apologies. If not, the red cape won’t suit you.
- - - Updated - - -
Not at all. Where did you even get that from?
You're missing the point. I too have sold watches origination overseas to dealers here in the UK without any questions being asked, but I owned them for a few years.
I didn't buy a tax free watch overseas, walk straight through the Green channel, hop on a train and go straight to Watchfinder. If I did that with a watch with yesterday's date on the papers, I'd expect them to ask questions, otherwise they are potentially complicit in a VAT fraud.
There is an ex grey dealer I can think of who is currently a guest of Her Majesty who did something not too dissimilar.
Last edited by PSTW; 9th April 2018 at 17:17. Reason: Deleted
On another note I had a dig for the story you mentioned - Darren Ray (Reay) is the guy you’re talking about. That was a surprise, but given the circumstances of dealing with him, in many ways not that much.
Donkey’s years ago now, must be about fifteen years, I bought an SMPC from him (the blue Bond variant), it was a bit of a dog with foreign papers. I remember it really well, it was my first bad experience buying a watch over the internet. I sent it back and had a bit of a faff to get my money back.
Shame to see what he was up to, but a systemic VAT fraud netting millions in dodged tax is a far cry from someone buying a watch on holiday but I don’t want to argue about it.
I've only sold one watch to a dealer and I'm pretty sure I had to sign paperwork or a disclaimer confirming it was my legal property to sell and that there were no outstanding taxes owing. I'm pretty sure it said that.
[QUOTE=PSTW;4730598
Not at all. Where did you even get that from?[/QUOTE]
First post implies that it will be bought and sold, I could be wrong of course, have to wonder if his inbox is full to overflowing.
Actually that’s a fair shout.
Ok so the true story.
I went to Lucerne today with the intention of buying my wife a 114200 34mm olive dial. While in bucherer I noticed a SD50 floating around on a few trays. Having never tried one on I thought I would ask to have a look.
Before I knew it the watch was on the wrist & the assistant was working out a price for both, knowing my wife she would have said just buy it which is why I didn't post what do folks think as I know most TZers would say just get it.
I don't own any ceramic models & not sure if that's really the way I want to take my collection, so the school of thought was get the watch & see how we bond if not move it on to a good home but not Watchfinder.
I will be starting a house renovation project when I get back home & we certainly don't have a large amount of funds so careful consideration as to what watches I buy is always needed (basic tax rate payer)
Hence my post,the watch is very nice could have been mine for £7400 (before tax)* but not sure if ceramic is the way I want to go & a lot of money for me with a decision required in 30mins.
The watch was only available as a customer had declined it a couple of days before.
So as you've probably guest I bottled it & just bought the intended watch & a flick flak for my daughter.
Upside of bucherer Lucerne 3 rolex spoons & 2% discount on the wife's watch.
Just to clarify I'm not a tax dodger & ive never actually sold a watch in my life (probably the reason I'm getting a bigger safe)😂
Thanks guys for the input
Should have started this thread with that explanation, a lot more agreeable.
But I reckon bottom line is, if you can afford it then get it, but as you state funds might become difficult with a house renovation starting, buying to sell if you need to is probably not the best idea.
I agree but when the assistant has the calculator out & a Chinese couple where after the watch panic set in & typing on my phone under the counter was never the best scenario.
Having slept on it I have no regrets so I just think the new shiny stuff isn't for me.
Or why not do it the right way ? Claim the Swiss VAT back (9%) and pay the UK VAT and then it is legally imported.
Bear in mind be buying in CHF so could easily lose/gain a few percent just on Forex moves.
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I can buy one for 9500 euros in The Netherlands really considering picking one up.
We are talking about 126600 right?
Also do you guys think it will hold retail value in a couple of years?
I'd buy it anyway at that price regardless ;)
Its just so much money tied into one watch.
I'm worried secondary might drop below retail in the coming years.
In years past Rolex have produced watches with red writing for a time then changed back to all white, so early ones with red become more collectable, it might take a some years but I think you will never loose money. You also have years of pleasure wearing it.
I’d buy it at that price , even after vat is paid you won’t lose money if you decide to flip and allows you to own a great watch for a while
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Goodness, this is dispiriting. Just money, money, money. Not the watch.
Blame Rolex ;)
I note the wink but I agree with this. They're the last ones ever criticised in all this nonsense. ADs get it for trying to protect their supply agreement. Grey dealers get it for trying to make a few quid. Flippers get it for the same reason. The only party with any ability to directly impact the status quo is Rolex. Total Rolex product fan boy but getting pretty bored with the lack of supply and related pish it generates.
"Woken up on the wrong side of the bed, chief?
This happens every day. I’m pretty sure you’re not camped out at T5 looking for tax evaders and I’m pretty sure you’re not some Jesus like character, who lives a perfect life.
If you are and you do, accept my apologies. If not, the red cape won’t suit you."
Watch out. Him and his mates will be after you with their handbags!
Do it man @ 7500 you could sneak it back in and make a mint
One for £6958 at Heathrow T3 this am.
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Ah why am I not there right now argh
Airport terminals, the leveller for Rolex purchasing with no waiting lists!
I'm not sure that's realistic, given that their production is maxed out.
OK, I suppose they hypothetically could tool up for the massive initial demand and then have heaps of idle capacity for the next decade or two, but that doesn't seem too wise.
Personally, I like that they're savvy enough to stick with long and steady production runs, instead of being like one of the off-brands that foolishly undermines their long-term appeal by pushing a trendy new version every year or two. And that's also why there's such demand when Rolex does release a new model; it's not something that happens often.
I like to think I'm moderately consistent. I own several Rolexes, and have both benefitted and lost from the weird over-pricing. But I think the outcome is too much concentration on money rather than the actual quality of the watch.
As for avoiding importing duties. That's a crime. No ifs or buts. If you think it ok, there's nothing much to be said.
Or as a recent contributor remarked:
''Do it man, sneak it back in and make a mint.' Pure class.
Last edited by paskinner; 21st April 2018 at 11:32.
7000?
Last edited by screenkiller; 21st April 2018 at 21:20.
It's watch talk, language like that gets a ban, might be an idea to edit?
£8350 less VAT = £6958
I’m just going to say that if I’m going to be whacked with a piece of ladies luggage, brandished by a man, I’d like it to be something insubstantial like a Prada or an LV. These Radley bags and the like seem a bit ‘hurty’.
In other news, I’m tempted to ask if anyone would like to take my credit card on holiday if they’d pick that up for me!
#justsayin
Last edited by PSTW; 21st April 2018 at 17:58.
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